Roku (NASDAQ:ROKU) Trading Up 0% – Here’s What Happened

Shares of Roku, Inc. (NASDAQ:ROKU) were up 0% on Wednesday . The company traded as high as $82.83 and last traded at $82.36. Approximately 351,659 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 2,708,599 shares. The stock had previously closed at $82.34.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ROKU shares. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Roku in a research note on Tuesday, January 7th. Rosenblatt Securities increased their price target on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Baird R W raised shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Moffett Nathanson downgraded Roku from a “neutral” rating to a “sell” rating and set a $55.00 target price on the stock. in a research report on Friday, January 10th. Finally, Loop Capital upped their price target on Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.18.

Roku Stock Performance

The firm has a market capitalization of $11.99 billion, a PE ratio of -69.11 and a beta of 2.05. The company has a fifty day moving average price of $77.60 and a 200-day moving average price of $71.71.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the business posted ($2.33) earnings per share. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. On average, equities analysts predict that Roku, Inc. will post -1.09 earnings per share for the current year.

Insider Activity

In other news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the transaction, the chief financial officer now owns 65,555 shares of the company’s stock, valued at approximately $4,916,625. The trade was a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total value of $2,066,000.00. Following the sale, the chief executive officer now owns 26,538 shares in the company, valued at $2,193,100.32. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,095 shares of company stock worth $5,726,218. 13.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roku

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after buying an additional 244,793 shares during the period. Holocene Advisors LP bought a new stake in shares of Roku during the 3rd quarter worth approximately $129,015,000. Westfield Capital Management Co. LP boosted its holdings in Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after acquiring an additional 856,401 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Roku by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock worth $71,373,000 after purchasing an additional 30,038 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in shares of Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after purchasing an additional 507,643 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.